The average credit card debt for a recent year was $9205. Five years earlier the average credit

Question:

The average credit card debt for a recent year was $9205. Five years earlier the average credit card debt was $6618. Assume sample sizes of 35 were used and the population standard deviations of both samples were $1928. Is there enough evidence to believe that the average credit card debt has increased? Use a  0.05. Give a possible reason as to why or why not the debt was increased.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: